About the Hospitality Group

Bellator’s Commercial Hospitality Group works with principals and corporations in the buying and selling of hotels and development sites along the Gulf Coast of Florida, Alabama, and Mississippi. David Milstead and Grant Reaves lead the Hospitality Group. David and Grant help provide market information and leverage to their existing clients in the disposition and acquisition of hotels and land.

Private Listings

Case Studies

Bellator Commercial’s Hospitality Group represented by Grant Reaves and David Milstead advised the buyer in the acquisition of the Suburban Extended Stay Pensacola, FL. The hotel consists of 122 extended stay rooms with interior corridors. The Suburban Extended Stay benefits from its close proximity to Pensacola’s Navy Air Station. CW Capital was the seller of the Suburban Extended Stay and was represented by HTX Realty. CW Capital acquired the hotel through foreclosure.
Bellator Hospitality was in search of a hotel for the buyer to purchase as part of a 1031 tax exchange. The buyer purchased the asset from CW Capital through an online auction. With the assistance of Bellator Hospitality, the buyer successfully won the auction for $4,700,000. The terms of the auction required the hotel to be closed within 45 days of the signed purchase and sales agreement which required Bellator Hospitality and the buyer to work diligently together to close the transaction in the required time period.

Bellator Commercial’s Hospitality Group represented by Grant Reaves and David Milstead represented the seller in the disposition of the Wingate by Wyndham in Lafayette, LA for $4,725,000. The Wingate Lafayette is an 82-room hotel constructed in 2010. The hotel caters to leisure travelers coming to the Lafayette area as well as business travelers coming to the nearby oil fields.

The Wingate was listed for sale prior to the fall in oil prices in the spring of 2014. The fall in oil prices slowed down the economy in the area and greatly affected the revenue of the Wingate. Bellator Hospitality was faced with the challenge of selling a hotel in a rapidly declining market while still giving the seller a strong price. Grant Reaves and David Milstead were able to locate a hotel buyer from Texas that was comfortable with the cyclical nature of the oil market and negotiate a strong deal for the Seller. The transaction closed on December 15, 2015.

Confidentiality and Disclaimer

(“PROSPECT”), acknowledges and agrees that BELLATOR REAL ESTATE & DEVELOPMENT(“Broker”) was the first to advise PROSPECT of the availability and details concerning the following real properties:

PROSPECT and its representatives and agents shall collectively be referred to as “PROSPECT”. PROSPECT understands and agrees that all dealings concerning said transaction will be handled through the BROKER and that the BROKER WILL BE PAID FOR ITS SERVICES BY THE SELLER. PROSPECT further agrees that information received with respect to the above-mentioned opportunity will be kept in strict confidence, will not be used to compete with the SELLER and that PROSPECT shall not disclose this information to any person, including SELLER’S employees, and other owners of similar property, excluding those parties specifically involved in the transaction itself. PROSPECT’S sole purpose in seeking information about the property is to purchase the property. In the event that PROSPECT violates this confidentiality covenant or any other covenant herein with respect to SELLER, the BROKER and said SELLER shall be entitled to all remedies provided by law, including, but not limited to, injunctive relief and damages. The BROKER shall be deemed to include all and any other BROKERS with whom listing BROKER is co-operating.

All data on the property is provided for information purposes only. No representation is made by the BROKER as to the accuracy of the data provided. The BROKER encourages PROSPECT to thoroughly review and independently verify to PROSPECT’s own satisfaction that the data provided is substantially representative of the property and can be relied upon when considering the purchase of said property. PROSPECT acknowledges that PROSPECT has been advised to seek the independent counsel of an attorney and/or an accountant to verify the information supplied to BROKER by SELLER and to examine any and all applicable documentation relevant to the transaction.

In the event that PROSPECT discloses the availability of said designated real estate opportunity to any third party and this third party purchases the property without the BROKER, then PROSPECT, in addition to the remedies specified hereinabove, will also be responsible for the payment of BROKER’S compensation.

PROSPECT and any cooperating Agents shall be responsible for personal injury to any person or for any loss or damage to personal or real property or any other cause of damage or loss whatsoever with respect to the Property caused by their action and/or negligence.

This Contract shall be governed by the laws of the State of Alabama and the parties and the specifically and irrevocably agree to submit any controversy or claim arising out of or relating to this Contract, or the breach thereof, to resolution by arbitration in accordance with the commercial arbitration rules of the American Arbitration Association (A.A.A.). A judgment upon any award rendered by the arbitrators shall be entered by a court having subject matter jurisdiction therein and all parties expressly waive any challenge to the use of arbitration in accordance with this Paragraph.

The parties hereto agree that jurisdiction and venue for the entry of judgment upon said arbitration award shall be in Baldwin County, Alabama. The arbitrators are directed to award the expenses of the arbitration including required travel and other expenses of the arbitrators and any representatives of the arbitrators’ costs, the costs and charges of the American Arbitration Association, all reasonable attorneys’ fees and costs, to the prevailing party in the arbitration. In such event, no action shall be entertained if filed more than one year subsequent to the date the cause(s) of action actually accrued regardless of whether damages were otherwise as of said time calculable. The BROKER shall be entitled to all information and copies of all documents relating to the arbitration from both the Arbitrator and the parties.The SELLER shall be deemed to be a party to this document in so far as needs be. An email copy of this document and any signatures shall be considered for all purposes as originals. The PROSPECT acknowledges receiving a copy of this document.